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HomeMy WebLinkAbout917351 ~ , I j a ( , I /\\ MORTGAGE COC581 Walton & Associates, L.L.C., a Wyoming Limited Liability Company, of P.O. Box 323, Thayne WY 83127, (herein collectively called 'MORTGAGOR"), to secure the payment of$83,093.00, with interest thereon, as provided in and evidenced by a promissory note of even date herewith (the ultimate maturity date of which is ) and all renewals, modification and extensions thereof, do hereby mortgage unto Marie G. Walton, Trustee of the Marital Trust created under the EVAN AND MARIE WALTON LIVING TRUST, dated March 25, 1998 (herein called "MORTGAGEE"), the following described real property, situate in the County of Lincoln, State ofWY, hereby releasing and waiving all rights under and by virtue ofthe homestead exemption laws of the State of Wyoming, to-wit: Part of Section 23, T3SN R119W of the 6th P.M., Lincoln County, '''yoming being more particularly described as follows: BEGINNING at the Southwest cornel' of said the NWl/4SWl/4 of said Section 23 and running thence North 10 rods; thence East 24.5 rods; thence South 10 rods; thence West 24.5 rods to the POINT OF BEGINNING. MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes, assessments and charges levied against the property, as the same become due and payable; to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with an insurance carrier or carriers acceptable to MORTGAGEE, covering the insurance improvements on the Property against loss by fire and earthquakes, with extended coverage, in an amount not less than the unpaid balance of the debt hereby secured, or the insurable value (replacement cost) of such improvements, whichever is less, which insurance shall contain an appropriate loss payable provision protecting MORTGAGOR and MORTGAGEE as their respective interests may appear from time to time. In the event MORTGAGOR fails to pay such taxes or assessments, or fails to keep and maintain such insurance as herein provided, MORTGAGEE may pay such taxes and assessments and may secure and pay for such insurance, and all sums so paid shall be added to and considered a part of the indebtedness hereby secured and shall draw interest at the same rate. In case default shall be ~ade in the payment of the above sums hereby secured, or in the payment of the interest thereon, or any part of such principal or interest, when the same shall become due; or in case of default shall be made in any of the covenants and agreements thereof, or in the event MORTGAGOR sells or conveys the Property, or any part thereof, or any interest therein, without the prior written consent ofthe MORTGAGEE first had and obtained, then the whole indebtedness hereby secured, with interest thereon, shall become due and payable, at the option of MORTGAGEE, and MORTGAGEE'S legal representatives and assigns, may proceed by advertisement and sale/or as otherwise authorized by governing law, to foreclose on and sell the Property, and out of the proceeds of such sale, MORTGAGEE shall pay all sums due hereunder, together with all costs of sale including reasonable attorney's fees. If the proceeds of the foreclosure sale are insufficient to pay the indebtedness hereby secured and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment. In the event of any default whereby the right of foreclosure occurs hereunder, MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment of the Property, and to all rents, issues and profits from the accruing of any such rights and during the pendency of the foreclosure proceedings, and the period of redemption, if any there be. - MORTGAGOR warrants title to the Property as to parties claiming, by, through or under the MORTGAGOR only. Witness our hands this 7 DAY OF APril'20~ Jff Lane David Walton RECEIVED 4/10/2006 at 10:01 AM RECEIVING # 917351 BOOK: 616 PAGE: 581 JEANNE WAGNER Sworn to, subscribed and ackn0E!~g;:.d before me this 'l:tl1 day of 0"",,~n^ ; 0 by lAJ..r\c,.. vV t:U1UY \ ~ who is personally known to me or who has produced 200(P :~; .;¡[ f~;~i~~;~~;Hjlj~f;*J 0917:j51. 000582 State of County of Wyoming Lincoln - as identification. ~~ Notary Public: My commission expires: ~ t /1/ OCJ . MARCA TANNER COUNTY OF LINCOLN r NOTARY PUBliC STATE OF WYOMING 1·!